Tactile Systems Technology jumps on 2023 revenue forecast raise

Tactile Systems Technology

09/05/2023 19:27

** Shares of medical device maker Tactile Systems Technology
Inc  TCMD.O  rise 13.1% to $21.20, an over 1-year high
    ** Co raises its 2023 total revenue to about $271 mln - $275
mln, up from prior guidance of $269 mln - $273 mln
    ** Reports Q1 net loss of 9 cents per share, beating
analysts' expectations of net loss of 24 cents per share -
Refinitiv
    ** Posts total revenue of $58.8 mln vs analysts' est of
$53.9 mln
    ** As of March 31, co had $55 mln in cash and cash
equivalents 
    ** TCMD rose ~83% YTD

 (Reporting by Yamini Kalia in Bengaluru)
 ((Yamini.Kalia@thomsonreuters.com))